Economy - overview:
Vietnam is a densely-populated developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries. Vietnam joined the WTO in January 2007 following more than a decade-long negotiation process. WTO membership has provided Vietnam an anchor to the global market and reinforced the domestic economic reform process. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to about 21% in 2009. Deep poverty has declined significantly and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession has hurt Vietnam's export-oriented economy with GDP growing less than the 7% per annum average achieved during the last decade. In 2009 exports fell nearly 10% year-on-year, prompting the government to consider adjustments to tariffs to limit the trade deficit. The government has used stimulus spending, including a subsidized lending program, to help the economy through the global financial crisis. Vietnam's managed currency, the dong, faced downward pressure during the recession and the government devalued it by nearly 7% in December 2009. Foreign donors pledged $8 billion in new development assistance for 2010. Export growth resumed in 2010, driving GDP upward. However, Hanoi has struggled to control one of the region's highest inflation rates, which stands at 11.1% with interest hikes and multiple devaluations of the dong. Vietnam's economy faces higher lending rates, additional IMF scrutiny, domestic inflationary pressures, and an underperforming stock market.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Vietnam on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Vietnam Economy 2011 information contained here. All suggestions for corrections of any errors about Vietnam Economy 2011 should be addressed to the CIA.
$278.1 billion (2010 est.)
country comparison to the world: 42
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$102 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
6.8% (2010 est.)
country comparison to the world: 28
[see also: GDP - real growth rate country ranks ]
$3,100 (2010 est.)
country comparison to the world: 168
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 20.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
40.2%
[see also: GDP - composition by sector - industry country ranks ]
services:
39.2% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
47.49 million (April 2009 est.)
country comparison to the world: 12
[see also: Labor force country ranks ]
agriculture: 51.8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
15.4%
[see also: Labor force - by occupation - industry country ranks ]
services:
32.7% (April 2009)
[see also: Labor force - by occupation - services country ranks ]
6.4% (2010 est.)
country comparison to the world: 61
[see also: Unemployment rate country ranks ]
12.3% (2009 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 3.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
29.8% (2006)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
37 (2004)
country comparison to the world: 78
[see also: Distribution of family income - Gini index country ranks ]
35.1% of GDP (2009 est.)
country comparison to the world: 8
[see also: Investment (gross fixed) country ranks ]
revenues: $26.52 billion
[see also: Budget - revenues country ranks ]
expenditures:
$33.39 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
53.5% of GDP (2010 est.)
country comparison to the world: 46
[see also: Public debt country ranks ]
11.1% (2010 est.)
country comparison to the world: 202
[see also: Inflation rate (consumer prices) country ranks ]
6% (31 December 2009)
country comparison to the world: 43
[see also: Central bank discount rate country ranks ]
15.78% (31 December 2008)
country comparison to the world: 81
[see also: Commercial bank prime lending rate country ranks ]
$33.76 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$118.8 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$132.1 billion (31 December 2010 est.)
country comparison to the world: 44
[see also: Stock of domestic credit country ranks ]
$21.2 billion (31 December 2009 est.)
country comparison to the world: 69
[see also: Market value of publicly traded shares country ranks ]
paddy rice, coffee, rubber, cotton, tea, pepper, soybeans, cashews, sugar cane, peanuts, bananas; poultry; fish, seafood
food processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, paper
7.5% (2009 est.)
country comparison to the world: 36
[see also: Industrial production growth rate country ranks ]
86.9 billion kWh (2009 est.)
country comparison to the world: 34
[see also: Electricity - production country ranks ]
74.5 billion kWh (2009 est.)
country comparison to the world: 36
[see also: Electricity - consumption country ranks ]
535 million kWh (2009 est.)
[see also: Electricity - exports country ranks ]
3.85 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]
338,400 bbl/day (2009 est.)
country comparison to the world: 36
[see also: Oil - production country ranks ]
302,000 bbl/day (2009 est.)
country comparison to the world: 42
[see also: Oil - consumption country ranks ]
29,400 bbl/day (2009 est.)
country comparison to the world: 89
[see also: Oil - exports country ranks ]
134,200 bbl/day (2009 est.)
country comparison to the world: 58
[see also: Oil - imports country ranks ]
4.7 billion bbl (1 January 2009 est.)
country comparison to the world: 26
[see also: Oil - proved reserves country ranks ]
7.9 billion cu m (2008 est.)
country comparison to the world: 45
[see also: Natural gas - production country ranks ]
8.1 billion cu m (2008 est.)
country comparison to the world: 53
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 101
[see also: Natural gas - exports country ranks ]
380,000 cu m (2009 est.)
country comparison to the world: 69
[see also: Natural gas - imports country ranks ]
610 billion cu m (1 January 2009 est.)
country comparison to the world: 31
[see also: Natural gas - proved reserves country ranks ]
-$9.622 billion (2010 est.)
country comparison to the world: 176
[see also: Current account balance country ranks ]
$70.76 billion (2010 est.)
country comparison to the world: 41
[see also: Exports country ranks ]
crude oil, marine products, rice, coffee, rubber, tea, garments, shoes
US 21.43%, Japan 11.44%, China 7.27%, Australia 4.43%, Germany 4.27% (2009)
$81.73 billion (2010 est.)
country comparison to the world: 35
[see also: Imports country ranks ]
machinery and equipment, petroleum products, fertilizer, steel products, raw cotton, grain, cement, motorcycles
China 16.42%, Singapore 9.61%, Japan 8.96%, Taiwan 8.23%, South Korea 7.72%, Thailand 6.41%, Hong Kong 4.45%, US 4.27% (2009)
$16.3 billion (31 December 2010 est.)
country comparison to the world: 45
[see also: Reserves of foreign exchange and gold country ranks ]
$33.45 billion (31 December 2010 est.)
country comparison to the world: 62
[see also: Debt - external country ranks ]
$59.52 billion (31 December 2010 est.)
country comparison to the world: 51
[see also: Stock of direct foreign investment - at home country ranks ]
$7.7 billion (31 December 2009 est.)
country comparison to the world: 52
[see also: Stock of direct foreign investment - abroad country ranks ]
dong (VND) per US dollar - 19,148.9 (2010), 17,799.6 (2009), 16,548.3 (2008), 16,119 (2007), 15,983 (2006)
This page was last modified 09-Feb-11